Fox Business Network

Gerri's Spotlight

One of the dirty little secrets of paying for college is that the price tag is negotiable. Although financial aid officers don’t like to admit it, negotiating prices has become commonplace. And, that’s good news because today’s price tags at $18,943 for in-state public schools, $32,762 out-of-state schools and $42,419 for private schools are simply unaffordable.

A free ride to college is a rare thing these days. If you are awaiting financial aid offers, you’re hoping for a grant windfall, but the reality is you will have to beef up your package with loans. Here’s a list of the federal loans, their details and annual award limits.

Over the next six weeks, millions of high school seniors will get word whether the colleges they have applied to are offering them admission for this coming fall. More than three and a half million applications will be filed, but only about two million will be accepted. Nobody, however, will be watching the mailbox more closely than Mom and Dad. That’s because acceptance letters are followed in short order by financial aid offers.